The local Santa Clarita real estate market is changing. We have been watching the start of a market shift from a sellers market to a buyers market.
However, if this was life – we'd still be in the embryonic stage with regard to the coming of a child as compared with this stage of an early Santa Clarita real estate shift is concerned.
It could take months to complete, but it will in the next several months. Our Santa Clarita real estate market is going to come full circle and make a full change from a Sellers real estate market, where the sellers are calling their shots 100% to a Buyers Market with a lot of inventory and home prices stabilizing.
This week in Valencia California, the median list price was $499,000. The 187 properties have been on the market for an average of 48 days.
Inventory has been tightening lately and the MAI – Market Action index has been ramping up. Though days on the market have been increasing, these are mildly positive indication for the local Santa Clarita real estate market.
With reference to Supply and Demand in Valencia and the Greater Santa Clarita areas, the market has been cooling over time and the home prices in the SCV have recently flattened. This flattening is despite the consistent decrease in the Market Action Index (mai). We are still well within a Real Estate sellers market in Valencia CA where significant demands leaves little inventory available for purchase.
If the MAI begins to climb – prices will also follow suit. However, if the MAI starts a decline, we will see prices start a downward trend as it enters the “Valencia CA buyers zone”.
Pricing Trends in Valencia CA have been lacking a strong Directional Indication Lately. When we measure market statistics in Valencia CA – we split our recon into quartiles. Those Quartiles correspond to the four “price ranges” in the local Valencia market. The top Quartile – number 4, being the top 25% of the most expensive properties and Quartiles 1-3 following beneath that with 1 being the bottom “least” expensive 25% of real estate in Valencia CA.
Quartiles 4 and 2 are mixed, while Quartile 3 is up and Quartile 1 is down. Look to persistent shifts in the MAI, market action index, as a leading indicator for strong moves (up or down) in the market as a whole in Valencia CA.
Be safe – Hire the BEST Valencia CA Realtors you can find and we will be here when you are ready.